Changchun Up Optotech Co.,Ltd. Stock Forecast
Changchun Up Optotech Co.,Ltd. stock price down 0.686% on Thursday
(Updated on May 09, 2024)
The Changchun Up Optotech Co.,Ltd. stock price fell by -0.686% on the last day (Thursday, 9th May 2024) from ¥29.14 to ¥28.94. During the last trading day the stock fluctuated 3.46% from a day low at ¥28.01 to a day high of ¥28.98. The price has risen in 6 of the last 10 days and is up by 7.5% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 million shares and in total, 8 million shares were bought and sold for approximately ¥236.73 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.16% during the next 3 months and, with a 90% probability hold a price between ¥25.15 and ¥33.96 at the end of this 3-month period.
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002338.SZ Signals & Forecast
The Changchun Up Optotech Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥28.05 and ¥28.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 18.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Changchun Up Optotech Co.,Ltd. stock
Changchun Up Optotech Co.,Ltd. finds support from accumulated volume at ¥28.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.97 between high and low, or 3.46%. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: ¥27.95 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (002338.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Changchun Up Optotech Co.,Ltd. to open at ¥28.64, and during the day (based on 14 day Average True Range), to move between ¥27.23 and ¥30.65, which gives a possible trading interval of +/-¥1.71 (+/-5.92%) up or down from last closing price. If Changchun Up Optotech Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 11.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥28.80 (0.48%) than the resistance at ¥30.30 (4.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Changchun Up Optotech Co.,Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Changchun Up Optotech Co.,Ltd. stock to perform well in the short-term.
Current score: 1.438 Buy Candidate Unchanged
Predicted Opening Price for Changchun Up Optotech Co.,Ltd. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥28.64 ( 1.03%) | ¥28.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002338.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.61 | 2.33 % | |
| R2 | 29.24 | 1.05 % | ||
| R1 | 29.01 | 0.255 % | ||
| Current price: | 28.94 | |||
| Support | S1 | 28.27 | -2.31 % | |
| S2 | 28.04 | -3.10 % | ||
| S3 | 27.67 | -4.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.88 | 13.61 % | |
| R2 | 31.28 | 8.09 % | ||
| R1 | 30.30 | 4.70 % | ||
| Current price | 28.94 | |||
| Support | S1 | 28.80 | -0.484% | |
| S2 | 27.64 | -4.49% | ||
| S3 | 26.04 | -10.02% |
002338 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2023 | Jul 21, 2023 | Jul 21, 2023 | ¥0.0100 | 0.0283% |
| 2 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | ¥0.0400 | 0.204% |
| 3 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | ¥0.0800 | 0.455% |
| 4 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.0500 | 0.152% |
| 5 | Jul 16, 2019 | Jul 16, 2019 | Jul 16, 2019 | ¥0.0500 | 0.379% |
FAQ
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